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, like the ones in the fiscal cliff proposal or, at worse, the monetizing of the debt, the -- a drop in the value of the dollar, and all the harmful effects that that will have on our economy and our country. so, we come -- so, here we are december 31, not only the eve of a new year, which we hope and pray will be a great one for our country and everyone who lives in it, but a few hours away from letting our country go over the cliff. and we can't let it happen, and that's why i'm so encouraged that these bipartisan negotiations will produce -- are looking like they'll produce a bipartisan agreement which hopefully will come before the senate sometime this evening. this is not -- this will not be the comprehensive, bipartisan long-term debt agreement that we created the cliff to encourage. this will not be the bipartisan long-term debt reduction agreement that this country needs. so smuch going -- beginning to turn right in our economy. how's -- so much is going -- beginning to turn right in our economy. housing is doing so much better. unemployment is down. you see manufacturing pic
something to soften the landing because at the bottom of the fiscal cliff, our our -- are immediate and massive tax increases, deep and indiscriminate spending cuts and the risk of another recession. so as we come down on the final hours, we have two choices -- to do nothing and cause an unbelievable amount of hardship for our fellow americans or to do something to reduce the suffering inflicted on our citizens by an inflexible political system. mr. president, i choose to do something, so today i'm introducing the calm act which stands for the cliff alleviation at the last minute act. the calm act will do three important things. it will soften the financial blow of the fiscal cliff. it will calm our financial markets. it gives us the certainty of a plan now but allows us if we ever find the courage to pursue the fiscal grand bargain that has eluded us so far. make no mistake, the financial markets are watching us, and they're getting more nervous by
on it funding more programs. you'll notice, if you look carefully at whatever this fiscal cliff deal is, that there won't be spending cuts but there will be spending proposals. so we're going to try to tax rich people more and get more money. it may not work because often you raise rates and get less revenue. we're going to try that. but we're going to take the intervene we get from rich people and we're going to spend it on programs, what we've been doing here. we're not going to fix the problem. we're going to perpetuate the problem. i would argue for we should be doing the oppose. we the -- doing the opposite. the republican party should have no part on this. we should have no finger prints on this and in no way support anything that raises taxes because it's bad economic policy. i for one will not support any proposal that comes out that does not cut spending and raises taxes. thank you, mr. president. i yield back my time and suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: quorum call: the presiding officer: the senator from massac
Search Results 0 to 2 of about 3